2024
9
UK Critical Illness Cover Market Report 2024
2024-05-02T17:01:28+01:00
REPB3000044_002D_4DA2_8A87_D385B730EE90
2995
172785
[{"name":"Insurance","url":"https:\/\/store.mintel.com\/industries\/finance\/financial-services\/insurance"}]
Report
en_GB
The number of new policies has stalled, but sales could be boosted by highlighting the value of product add-ons to the large number considering taking out cover.Lewis Cone, Associate…

UK Critical Illness Cover Market Report 2024

$ 2,995 (Excl.Tax)

Report Summary

The number of new policies has stalled, but sales could be boosted by highlighting the value of product add-ons to the large number considering taking out cover.

Lewis Cone, Associate Director – Financial Services

Table of Contents

  1. Executive Summary

    • Key issues covered in this Report
    • Opportunities for the critical illness cover market
    • Market dynamics and outlook
    • Graph 1: new critical illness cover contracts, by market segment, 2019-23
    • Graph 2: channels to market, by market segmentation, 2023
    • Graph 3: market shares of the top five providers of new individual critical illness cover, 2022
    • What consumers want and why
    • Graph 4: protection insurance product ownership, 2024
    • Graph 5: barriers to taking out a critical illness cover policy, 2024
    • Graph 6: perceived main benefits of having a critical illness cover policy, 2024
    • Graph 7: critical illness cover information sources, 2024
    • Graph 8: consumer knowledge of critical illness cover, 2024
    • Graph 9: product add-ons that would influence choice of critical illness cover provider, 2024
    • Innovation and marketing
  2. Market Dynamics

    • Market size
    • Graph 10: market size for critical illness cover sector – value of new premiums, 2019-23
    • Graph 11: number of new contracts for critical illness cover, 2019-23
    • Market segmentation
    • Graph 12: new critical illness cover contracts, by market segment, 2019-23
    • Market forecast
    • Channels to market
    • Graph 13: total new protection contracts with critical illness cover, by advice channel, 2023
    • Graph 14: channels to market, by market segmentation, 2023
    • Claims experience
    • Graph 15: number of claims paid, by reason for claim, 2022
    • Market share
    • Macro-economic factors
    • Graph 16: GDP, 2021-23
    • Graph 17: CPI inflation, 2020-24
    • Graph 18: Bank of England Base Rate changes, 2017-23
    • Graph 19: household financial wellbeing index, 2019-24
    • Graph 20: "Have you been affected by any of these issues over the last two months? Please select all that apply.", 2024
    • Social and regulatory factors
    • Graph 21: total number of people waiting for NHS services in England, 2020-24
    • Graph 22: residential property transactions over £40,000, seasonally-adjusted, 2019-23
  3. What Consumers Want and Why

    • Protection product ownership
    • Graph 23: protection insurance product ownership, 2024
    • Graph 24: critical illness cover ownership, by housing tenure, 2024
    • Consideration of critical illness cover
    • Graph 25: likelihood of consumers to consider critical illness cover in the future, 2019-24
    • Graph 26: likelihood of consumers to consider critical illness cover in the future, by protection product ownership, 2024
    • Graph 27: likelihood of consumers to consider critical illness cover, by housing tenure, 2024
    • Barriers to critical illness cover ownership
    • Graph 28: barriers to taking out a critical illness cover policy, 2024
    • Graph 29: barriers to taking out a critical illness cover policy, by financial situation, 2024
    • Key benefits of having critical illness cover
    • Graph 30: perceived main benefits of having a critical illness cover policy, 2024
    • Critical illness cover information providers
    • Graph 31: critical illness cover information sources, 2024
    • Consumer knowledge of critical illness cover
    • Graph 32: consumer knowledge of critical illness cover, 2024
    • Product add-ons and choosing a provider
    • Graph 33: product add-ons that would influence choice of critical illness cover provider, 2024
  4. Innovation And Marketing Trends

    • Competitive strategies
    • Launch activity and innovation
  5. Appendix

    • Report scope and definitions
    • Methodology
    • Market forecast data and methodology

About the report

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